Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

The other option is I purchase furniture from a store local to the property and have them deliver the furniture all on the same day, but if I go that route then I may pay much more than if I ordered online.

This in turn could turn away buyers/delay possession to a buyer who wants the home delivered vacant. 

., 2021 and pulled $150k out to invest with a builder in SW, Florida who has yet to deliver the first of three houses in three years. 

I would love to start real estate investing, and I am thinking of house-hacking a 2-bedroom condo in Miami as there seems to be a good amount of units delivering in the Brickell area.

While no service is one-size-fits-all, we’re confident in our ability to deliver exceptional results for clients aligned with our approach.  

Your lender will need you to move in within 60 days.So how do you get the seller to deliver the bad news?

I do agree $100k revenue on $500k cabin seems should have positive coc, but the size ($7k allocated maint/cap ex which is unscheduled maintenance - annual fire prep has own allocation), delivered propane, expensive utilities, & expensive cleaning take their toll. 

My experience was excellent both projects were completed successfully, on time, and delivered solid returns.

So spend NO money on advertising and use that money to make our product stand out.. this has led us to raise our prices Far above our competition more than makes up for it and we sell them as fast as we can build them.. for us thats delivering 2.5 homes per month.